Icon Wealth Advisors LLC Acquires New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Icon Wealth Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,685 shares of the pharmaceutical company’s stock, valued at approximately $1,092,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Venturi Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after buying an additional 24 shares in the last quarter. Hohimer Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after purchasing an additional 24 shares during the period. Johnson Financial Group Inc. raised its position in shares of Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after purchasing an additional 24 shares during the period. Finally, Arthur M. Cohen & Associates LLC raised its position in shares of Vertex Pharmaceuticals by 3.2% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent analyst reports. UBS Group cut their target price on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. BMO Capital Markets boosted their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $440.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Finally, Royal Bank of Canada lowered their price target on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.48.

Get Our Latest Stock Analysis on Vertex Pharmaceuticals

Insider Activity

In other news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 16,518 shares of company stock valued at $7,409,762 in the last 90 days. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Down 1.0 %

VRTX traded down $4.74 during mid-day trading on Tuesday, reaching $478.54. The stock had a trading volume of 112,238 shares, compared to its average volume of 1,216,545. The stock has a market capitalization of $123.49 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.48 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The firm’s fifty day simple moving average is $424.38 and its two-hundred day simple moving average is $415.24. Vertex Pharmaceuticals Incorporated has a 52 week low of $331.87 and a 52 week high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current year.

About Vertex Pharmaceuticals

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

See Also

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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